Market Action For Last Week
- SPY: closed $594.28 on Friday, June 20 and $614.91 on Friday, June 27 → +20.63 points, +3.5% gain (stockanalysis.com)
- QQQ: (June 20 close ~ $529.00 estimate based on 548 now plus ~3.6% gain as per weekly Nasdaq performance) Friday, June 27 closed at $548.09, roughly +19‑20 points, +3.6‑3.8% gain
- IWM: Friday, June 20 closed ~212.22 (215.48 minus the 3% weekly gain), and closed $215.48 on June 27 → about +3.26 points, +3.0% gain (seekingalpha.com)
All three major U.S. ETFs posted strong weekly gains (~3–3.8%), with QQQ slightly leading, reflecting renewed risk-on sentiment and optimism in tech and small-caps.
Upcoming Major Economic Reports and Potential Market Moving Events
Monday, June 30
- Construction Spending (May) – 10 a.m. ET
- Job Openings/JOLTS (May) – 10 a.m. ET
Tuesday, July 1
- ISM Manufacturing PMI (June) – 10 a.m. ET
Wednesday, July 2
- ADP Employment Report (June) – 8:15 a.m. ET
- Services PMI (June) – 10 a.m. ET
Thursday, July 3
- No major reports; markets close early (1 p.m. ET for stocks)
Friday, July 4
- Markets closed (Independence Day holiday) (marketwatch.com)
No Fed announcements next week—focus remains on June labor data, PMI, and the ADP release.
Upcoming Major Stock Earnings Reports
Based on earnings calendars (kiplinger.com):
Monday, June 30
- Progress Software (PRGS) – Pre-market
Tuesday, July 1
- MSC Industrial (MSM) – Unspecified
- Constellation Brands (STZ) – Unspecified
- Greenbrier (GBX) – Unspecified
Wednesday, July 2
- UniFirst (UNF) – Unspecified
Thursday & Friday (July 3–4)
- No major earnings; July 3 sees early market close, July 4 is closed
Outlook (30-Day Sentiment)
I'm bullish over the next month. Here's why:
- Indexes just closed at fresh all‑time highs (SPY at 6,173; Nasdaq‑100 at 20,273) (kiplinger.com, investors.com, apnews.com).
- The rally is supported by dovish undertones—weak inflation data, oil pullback, and speculation of Fed rate cuts .
- Tech and AI leadership remain strong, adding structural strength.
- Upcoming economic data may reinforce the narrative if they stay soft, lowering rate-cut hurdles.
That said, intermittent geopolitical flare-ups or trade-related headlines could trigger short-term volatility. But current technical momentum, macro backdrop, and positive sentiment support a constructive view for stocks over the next 30 days.
Let me know if you'd like a detailed chart breakdown or options trade setup to align with this view!